EQTEC PLC has announced that Verde Corporation is in default of the Subscription Letter, resulting in the termination of the Subscription. This also affects the agreement for conversion of debt into equity by significant shareholders Pitcole Limited and Altair Group Investment Limited. However, there is an automatic obligation to convert upon a future fundraise of £1,000,000 gross or more as per the agreements of the New Syndicated Facility. The YA-RF Lenders have agreed not to convert their remaining £600,000 under the New Syndicated Facility while negotiations are ongoing to finalize a longer-term financing solution. The company has also provided information about its technology and solutions. EQTEC is quoted on AIM (ticker: EQT) and has been awarded the Green Economy Mark by the London Stock Exchange.